What motivate the customers and insurance professionals?
When we want to recognize the customers’ behaviors, the most important question is what motivates them to select the insurer and purchase the policy from them. That seems to be obvious, it is always about the price. But are you sure, that in the future the price will also be the tie-breaker? The changing customers’ behavior can also have an impact on purchasing factors for new type of customers. The new demanding client will expect services which will be easier to reach and faster, offer, that better suited to their personal needs and simple, understandable products. The same elements are expected by distributors, who check firstly the quality of insurance products and speed of processes ahead of the level of commission, when they are selecting the insurance company which they want to cooperate with. Additionally, the benefits of health and financial security provided to businesses and individuals are becoming increasingly important.
This expectations from clients and distributors like agents and brokers needs to be addressed by insurers who want to win markets shares in a digital era. The digitalization which is defined by Gartner analytical company as “shifting the fundamental business model to support electronic channels, content and transactions, while continuing to support traditional practices that cannot be ignored” is a way to achieve this goals. Thanks to digital tools we can ensure automated and optimized processes which will be faster and more accessible. The critical factor is to enhance User Experience which have to be provided during the insurance customer journey. User Experience is not just a friendly interface of application or software, it is all impressions and feelings which clients have when they contact the insurer.
Moreover, developing tailored solutions is crucial for addressing the complexity of individual needs and providing personalized risk management and insurance plans to protect personal wealth and lifestyle.
